MESQUITE — LIG Assets, a provider of funding and financing for business real estate projects, has an agreement with HQZ Partners, LP to fund, develop and jointly own a project called Peachtree Towne Center, an estimated $250 million, 60-acre mixed-use medical campus in Mesquite. The agreement includes funding to complete Phase I of the four phase project. The project is subject to an economic development agreement from the City of Mesquite.
JOHNSON CITY, TENN. — Marcus & Millichap has brokered the sale of a 60,600-square-foot, four-story medical office building, located at 701 Med Tech Pkwy. in Johnson City, for $16.1 million. Anthony Lunceford of the firm's Nashville, Tenn., office represented the sellers and Joseph Massa, also in Nashville, represented the buyer, a regional private equity firm. Tenants include the East Tennessee Ambulatory Surgical Center, East Tennessee Brain & Spine and John Lawson Surgical.
MT. VERNON, ILL. — Hoar Construction has broken ground for a new addition to Crossroads Community Hospital in Mt. Vernon. The project will include a three-story, 48,000-square-foot addition containing 40 beds as well as radiology and lab departments. In addition, the existing emergency room and waiting area will be renovated. The hospital will remain open during construction, which will be complete by August 2012. Hart Freeland Roberts is the project architect. Franklin, Tenn.-based Community Health Systems owns the hospital.
ORLANDO, FLA. — Fort Myers, Fla.-based J.L. Wallace Construction has completed the renovation of the VA Consolidated Patient Account Center (CPAC) in Orlando. The entire third floor of the CPAC building was renovated, including a redesign of 48,000 square feet of space to accommodate offices, work stations, conference rooms, training areas and the addition of an elevator tower. Hickory, N.C.-based Atriax Group provided architectural services.
BEAVERCREEK, OHIO — Construction has commenced for a new $131 million hospital in the Dayton, Ohio, suburb of Beavercreek. The Indu and Raj Soin Medical Center will be a six-story, 285,000-square-foot structure containing 131 beds. It will be located on 22 acres at the intersection of Pentagon Boulevard and Royal Gateway Road. The facility will be able to expand up to 300 beds. Completion is slated for the first quarter of 2012. Kettering Health Network is the owner, and HOK is the project architect. Danis Building Construction Co. is the general contractor.
MICHIGAN CITY, IND. — HSA PrimeCare has started construction for a 19,593-square-foot cancer treatment center on the campus of Franciscan St. Anthony Health's Michigan City campus. The oncology practice for Franciscan St. Anthony will occupy 18,417 square feet of the two-story building, with the remaining space being leased out as medical office space. HSA will develop, own and manage the property. Design Organization is serving as project architect, and Tonn and Black Construction is the general contractor.
DENVER — CBRE has leased 2,182 square feet of medical office space at Aurora Medical Center I to Barlow and Fell MDs. The space is adjacent to the Medical Center of Aurora South Campus. Barlow and Fell MDs will be relocating from the Aurora North Medical Campus. Matthew Leiner, a CBRE leasing associate, represented both the buyer and the seller, along with Jecoah Byrnes, a leasing associate with CBRE Denver’s Healthcare Services.
MONONA, WIS. — New York City-based American Realty Capital Healthcare Trust (ARC) has signed an agreement to acquire a healthcare project currently under development in Monona, a suburb of Madison. The project is a clinical outpatient facility that will be leased at completion to the University of Wisconsin Medical Foundation for a 10-year term. The project will be seeking LEED certification. Completion is expected in September.
ALICE, LUFKIN, VICTORIA AND WHARTON — Seavest has closed on the sale of an eight-property medical office building (MOB) portfolio for approximately $30 million. Grubb & Ellis Healthcare REIT II Inc. purchased the portfolio, which totals 156,220 square feet and had been a part of the Seavest Properties I LLC investment fund since they were developed by the company from 2000 to 2002. The eight properties are located in Alice, Lufkin, Victoria and Wharton, Texas, Carlsbad and Hobbs, N.M., Hope, Ark., and Lake Charles, La. The MOBs were originally master-leased to Triad Hospitals Inc. for terms ranging from 12 to 15 years and are located on land leased from the hospitals. Three of the properties were later sold by Triad to Signature Hospitals in Wharton, Christus Spohn Health System in Alice, and Shiloh Health System in Hope. The other five properties are on the campuses of hospitals now operated by Community Health Systems Inc., which acquired Triad in 2007.
LAS VEGAS — Birmingham, Ala.-based The Sanders Trust has acquired the 53,000-square-foot, 50-bed HealthSouth Desert Canyon Rehabilitation Hospital for $17 million. HealthSouth is a tenant pursuant to a long-term lease with The Sanders Trust and will continue to own the hospital.